Transformers play a vital role in power transmission and distribution. Dry type transformer are those transformers where air is used as cooling and dielectric medium. These type of transformers have a unique core and coil design that is mounted on rubber isolation pads to reduce noise. These are manufactured through vacuum pressure impregnation in polyester or silicon varnish. Dry type transformers have wide applicability in domestic as well as industrial segments.

Dry type transformer have many advantages over oil type transformers. The major advantages of dry type transformer are safety, low maintenance and installation cost. For instance, oil type transformers need regular sampling of oil and complex maintenance procedures which increases their cost. The market is valued at $4.16 billion in the year 2014, and is expected to reach $5.38 billion by 2020. The global dry type transformer market is driven by the rise in the demand for energy and wide applicability across various industries. Currently, dry type transformers are gaining immense significance in the wind energy and oil & gas projects. Additionally, factors such as growing urbanization and industrialization globally are expected to create a huge market for dry type transformers.

The global market is dominated by Asia-Pacific, followed by North America and Europe. Asia-Pacific is the fastest-growing market for dry type transformer, due to increasing investments in development of transmission and distribution networks that increases the demand for dry type transformers in the region. Furthermore, energy efficiency standards in developed markets like Europe and the U.S., act as a favorable factor for the growth of the dry type transformers market in these regions. The industry is dominated by major players like Hammond Power Solutions Inc., Schneider Electric SA, Asea Brown Boveri (ABB Group), Crompton Greaves Ltd., Siemens AG, Jinpan International Ltd., and others.

The global dry type transformer market has been segmented by technology, phase, application, voltage, and geography. The technology includes cast resin and vacuum impregnated. The cast resin segment held the largest market share of 65.4% in 2015, and is valued at $2.7 billion. The market, based on phase, has been divided into single phase and three phase. Based on application, the market has been segmented into industrial, commercial, and others. Industrial is the largest application segment of the market, and was valued at $2.35 billion in 2015. The market has also been segmented based on voltage into low and medium. The segmentation of the market based on geography comprises Asia-Pacific, North America, Europe, and Rest of the World (RoW).

This report estimates the global dry-type transformer market in terms of technology, phase, application, voltage, and geography. This segmentation provides a comprehensive view in understanding the market opportunities and barriers. On the basis of technology, the market has been segmented into cast resin and vacuum pressure impregnation. China and India contributed a major share to this segment. However, vacuum pressure impregnated is projected to be the faster-growing segment during the forecast period 2015 to 2020.

Based on phase, the dry-type transformer market has been categorized into three phase and single phase. Globally, most of the transmission lines of an electric power system are in high-voltage three-phase alternating current. The industrial application, which is a prominent application of dry type transformers, requires electricity in three phase, while single phase supply is needed mostly in secondary application in bigger machineries, which explains the dominance of the three phase segment in the global market. Low voltage dry type transformer segment dominated the global dry-type transformer market segmented by voltage. Low voltage transformer contributed share of around 73.6% to the global market in 2014. They are mostly used in distribution networks and manufacturing & processing industries.

The global dry-type transformer market was valued at $4.16 billion in 2015, and is projected to grow at a CAGR of 5.3% from 2015 and 2020 to reach $5.38 billion by 2020. Asia-Pacific is the fastest-growing market globally, and accounted for a share of 45.2% in 2015. China contributed the largest share of 46.2% to the Asia-Pacific dry-type transformer market in 2014, and is expected to reach $1.19 billion by 2020, at a CAGR of 6.9% from 2015 to 2020.

As the environmental and safety concerns are minimized with application of dry type transformer, the market for this type of transformers is anticipated to witness high growth in the near future. Additionally, a large number of upcoming renewable energy and grid up-gradation projects are expected to drive the growth of the market. The industrial application segment for dry type transformer is expected to grow at a CAGR of 5.5% from 2015 to 2020. The major drivers for this market are the rise in demand from emerging economies like India and China and the increase in number of grid restructuring & expansion and smart grid projects. RoW countries, such as Iran, Saudi Arabia were investing heavily in the expansion and restructuring of power and distribution grid, which is expected to drive the growth of the dry type transformers market in this region.

ABB, Hammond Power Solutions Inc., Jinpan International Ltd, Siemens AG are the major player in the market. They accounted for about 43.8% of the global dry type transformers market in 2014. Acquisitions and new product launches are the strategies used by these players to achieve growth in the global dry-type transformer market. Acquisition of Trasfor group by ABB is one of the examples of such high profile merger. BHEL launched a new phase shifting transformer. This transformer is designed for various power industries like SEB (Société d'Emboutissage de Bourgogne), NTPC (National Thermal Power Corporation), PowerGrid, and others. TBEA Transformer Industrial Group, as part of their expansion strategy, is expected to invest $100.0 million dollars for the establishment of a production facility in Vadodara, India. This production facility will benefit the company in increasing their presence in the South Asian markets

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